Deere & Company (NYSE:DE) Given New $420.00 Price Target at Citigroup

Deere & Company (NYSE:DE) had its target price boosted by stock analysts at Citigroup from $395.00 to $420.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective indicates a potential upside of 3.58% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Bank of America boosted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $416.94.

Deere & Company Trading Up 1.3 %

Shares of DE traded up $5.20 during midday trading on Wednesday, hitting $405.48. 760,096 shares of the stock were exchanged, compared to its average volume of 1,492,225. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a fifty day simple moving average of $384.24 and a 200 day simple moving average of $385.16. The firm has a market cap of $111.74 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.20 EPS. On average, research analysts anticipate that Deere & Company will post 25.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC boosted its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in Deere & Company during the fourth quarter worth $33,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.